On February 1, 2020, Sudan Corp. purchased a parcel of land for $300,000 as a factory site. An old building on the property was demolished, and construction began on a new building which was completed on November 1, 2020. Costs incurred during this period are listed below.

Demolition of old building.... $25,000

Architect's fees..... 35,000

Legal fees for title investigation and purchase contract.... 5,000

Construction costs.... 990,000

(Salvaged materials resulting from demolition were sold for $10,000)

Sudan should record the cost of the land and new building, respectively, at

330,000 and 1,015,000

315,000 and 1,030,000

315,000 and 1,025,000

320,000 and 1,025,000